HP to Purchase Silver Peak in a Deal Worth $925 Million

Information and Technology Company Hewlett Packard Enterprise Co. (HPE) announced that it will be purchasing Silver Peak Systems– a tech company which largely specializes in developing products for wide area networks.

The acquisition deal is believed to cost about $925 million and HP said it will be a cash only transaction.

After the deal has been closed, Silver Peak will be merged with HPE’s Aruba business unit, which engages in production of WI-FI equipment.

Demand for hardware and software computer products has been on the surge following global breakout of coronavirus which resulted to learning at home and working at home orders. HP says this acquisition will help it to expand its software defined wide area network business which will address the increase in demand.

Almost all businesses around the world rely on WAN to connect devices remotely, president of Intelligent Edge for HPE, Keerti Melkote, says the pandemic might be here with us for long making working at home the new norm hence the need to address issues which will come with the new norm.

We are seeing an accelerated need for technology like this because we are going to be working from home quite a bit. The pandemic only accelerated our view that this was going to be a very strategic asset,” said Melkote.

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